Coronavirus

Murky economy complicates credit outlook at JPMorgan Chase

10/13/20

The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.

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Citi says 30% of its NYC workers want to return to the office

10/13/20

A survey sent to workers in New York, New Jersey and Connecticut last month found that most wanted to start by returning to the office just a few days a week.

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Citi posts its biggest quarterly profit of pandemic

10/13/20

Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.

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Biggest U.S. banks keep assets at safest level in 35 years

10/09/20

Cash, Treasurys and other securities effectively guaranteed by the federal government now make up more than 35% of the combined balance sheets of the 25 biggest U.S. banks, according to data compiled by the Fed. That’s the biggest share in records dating to 1985.

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Jamie Dimon doesn’t see a return to normal until middle of next year

10/09/20

The JPMorgan Chase CEO, among the biggest Wall Street proponents of returning workers to the office, doesn’t see life returning to some form of normal until mid-2021 at the earliest.

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SBA streamlines forgiveness for PPP loans of $50,000 or less

10/09/20

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

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Entrepreneurship in the WFH Era

10/08/20

What Jason Gardner, founder and CEO of Marqeta, has learned leading a 450-person fintech from home.

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Fed's Rosengren: Pre-pandemic low rates worsened current downturn

10/08/20

Federal Reserve Bank of Boston President Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession.

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U.S. consumer borrowing falls on smaller credit card balances

10/07/20

U.S. consumer borrowing unexpectedly fell in August as credit card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment.

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What's driving skyrocketing demand for boat, RV loans

10/07/20

Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks.

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